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City will help people open companies

THE city is expected to help 30,000 people to open companies over the next three years.

People are being encouraged to start different kinds of companies, from founding chain stores to farmers opening guest houses in their homes, said the Shanghai Human Resources and Social Security Bureau over the weekend.

The new companies are expected to create 200,000 jobs, said Zhou Haiyang, director of the bureau.

The bureau will build more creative zones in the city where new companies can thrive and give training to those who want to develop their business. As the rent of office buildings and stores are relatively high for new businesses, the creative zones will provide affordable locations for them. The bureau will also provide rent subsidies to new companies, said Zhou.

"We will also expand the amount of small loan agencies to support the companies during the next three years," Zhou said. "And the bureau will give subsidies to these loan agencies."

The Shanghai Industrial and Commercial Administrative Bureau has announced new policies to encourage new graduates to start businesses. The graduates can register a company without the standard requisite pool of capital, and they get discounts on applying for licenses.

Bao Danru, deputy director of the bureau, said earlier last week that the global economic downturn has not yet exerted much influence on the human resources in Shanghai, but the influence will emerge in the near future.

"This year, the unemployment rate will remain around 4.5 percent," he said. "We aim to create about 500,000 jobs this year across the city."


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